Shwe Pyi Tagon Company also registered
itself as a public company on January 8 and will start selling shares to
the public at an undisclosed date in the future, spokesman Lwin Naing
Oo said.
“We have formed as a public company so
that all citizens can have a share. In the future, we will set up a
factory and manufacture mobile handsets through a joint venture with a
foreign company,” he said.
It will announce the date of its share sale in newspapers, he said.
Last year the company gained national
attention after announcing that it would challenge the state monopoly on
SIM cards by selling them at US$6 apiece, or about 100 times lower than
the price charged by state-controlled vendors.
The move was blocked but the price of
SIM cards was subsequently halved following rising public anger at the
high price of signing up for mobile service here.
Strong public support for the company prompted its decision to turn itself into a public company, Lwin Naing Oo said.
The price of mobile handsets is expected
to fall as state-run companies are also rumoured to be planning to sell
low-cost handsets soon.
source: Eleven Myanmar
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